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SPI to sell 6.4-MW PV project in Japan buy 6 MW in California

April 3 – China-based Solar Power Inc (OTCBB:SOPW), or SPI, said Wednesday it will dispose of its entire interest in a 6.4-MW solar project in Japan, while on Thursday it announced a definitive agreement to buy 6.02 MW in California.

The company is making the Japanese deal through subsidiary SPI Solar Japan GK and for now it has not revealed financial details. The sale of the land and project development rights for a PV scheme in Susami City, Wakayama Prefecture, depends on several conditions. Completion is expected this month.

As for the purchase in California, it involves 100% in the solar plants known as “Aerojet” in Rancho Cordova. They were installed by SPI in 2009 and 2010. Subject to the completion of due diligence and other conditions, these assets are to re-enter the solar company’s existing operating portfolio.

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